PR Newswire
NEW YORK, Sept. 26, 2019
NEW YORK, Sept. 26, 2019 /PRNewswire/ -- More seniors are remaining employed well after hitting retirement age of 65, a ValuePenguin.com study has found. For Americans over 75, the labor force participation rate has nearly doubled over the last 20 years.
ValuePenguin.com's analysis also found that occupations requiring very specific trade skills, such as embalmers and leather repairmen, employ the largest percentage of seniors, and that among the 100 largest cities in the country, some cities had a disproportionately large population of seniors in the workforce.
Key Findings:
To identify where seniors are working and why they may be delaying retirement, ValuePenguin.com analysts looked at data from the Bureau of Labor Statistics 2018 Current Population Survey in conjunction with U.S. Census Bureau 2013-2017 American Community Survey 5-Year Estimates (Population 65 years and over in the United States), as well as ValuePenguin.com's own research on insurance costs and the average amount of savings among seniors.
To view the full report, visit: https://www.valuepenguin.com/seniors-work-well-past-retirement-age
Where are the most seniors staying in the workforce? | ||||
Metro area | 65+ Seniors In the Workforce | Average Household Income for 65+ residents | Annual housing costs for 65+ residents | 65+ residents with a Bachelor's degree or higher |
Washington D.C. | 24.90% | $97,902 | $21,972 | 41.50% |
Bridgeport, Connecticut | 24.30% | $57,488 | $22,668 | 14.50% |
Boston, Massachusetts | 22.70% | $102,621 | $23,472 | 28.80% |
Omaha, Nebraska | 22.30% | $52,080 | $15,372 | 29.50% |
Austin, Texas | 21.10% | $66,494 | $19,572 | 42.90% |
Dallas, Texas | 21.10% | $70,729 | $15,888 | 32.50% |
Salt Lake City, Utah | 21.10% | $70,483 | $15,972 | 42.20% |
Denver, Colorado | 20.70% | $59,601 | $17,304 | 38.60% |
Houston, Texas | 20.40% | $67,766 | $15,672 | 30.70% |
San Francisco, California | 20.00% | $83,216 | $30,324 | 36.10% |
Baltimore, Maryland | 19.90% | $59,132 | $14,556 | 21.00% |
Honolulu, Hawaii | 19.80% | $78,984 | $26,340 | 28.90% |
Harrisburg, Pennsylvania | 19.60% | $44,607 | $14,964 | 23.60% |
Philadelphia | 19.50% | $44,868 | $18,612 | 17.80% |
Nashville, Tennessee | 19.40% | $43,946 | $14,436 | 25.40% |
About ValuePenguin.com: ValuePenguin.com, part of LendingTree (NASDAQ: TREE), is a personal finance website that conducts in-depth research and provides objective analysis to help guide consumers to the best financial decisions. ValuePenguin focuses on value, assessing whether the return of a particular decision is worth the cost or risk of that option, and how this stacks up with the other possible choices they may have. For more information, please visit www.valuepenguin.com, like our Facebook page or follow us on Twitter @ValuePenguin.
Media Contact:
Divya Sangam (Ms.)
646 693 8445
[email protected]
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SOURCE ValuePenguin.com
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